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Biohacking Market: Market Size, Demand Trends, and Technological Innovations Driving Growth
Biohacking Market
Biohacking Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $86.53 billion In 2028 At A CAGR Of 24.2% :
The biohacking market size has grown exponentially in recent years. It will grow from $29.42 billion in 2023 to $36.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to increased health awareness, access to information, entrepreneurial culture, quantified self movement.
The biohacking market size is expected to see exponential growth in the next few years. It will grow to $86.53 billion in 2028 at a compound annual growth rate (CAGR) of 24.2%. The growth in the forecast period can be attributed to longevity and anti-aging focus, nootropics and cognitive enhancement, mainstream adoption, corporate wellness programs, regulatory landscape. Major trends in the forecast period include biohacking for longevity and anti-aging, biohacking wearables and devices, nootropics and cognitive enhancement, biohacking for sleep optimization, genetic editing and CRISPR technology.
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Biohacking Market Major Segments
The biohacking market covered in this report is segmented -
1) By Product: Wearables, Implants (Chips), Gene Modification Kits, Smart Drugs, Supplements, Mobile Apps, Other Products
2) By Component: Solution, Services
3) By Application: Synthetic Biology, Genetic Engineering, Forensic Science, Diagnosis and Treatment, Drug Testing
4) By End-User: Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, Forensic Laboratories, Research and Academic Institutes, Other End Users
Key Driver - Escalating Prevalence Of Chronic Diseases Enhance Biohacking Market
The rising prevalence of chronic diseases is expected to propel the growth of the biohacking market going forward. Chronic diseases are conditions or illnesses that often last for three months or longer and have the potential to get worse over time. Biohacking methods such as improving the nutrition of the body, intermittent fasting, hydrogen inhalation therapy, and others can help to fight cancer and other chronic diseases. For instance, in January 2023, according to National Centre for Biotechnology Information (NCBI), a US-based National Library of Medicine, It is projected that by the year 2050, the number of individuals aged 50 years and above who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the rising prevalence of chronic diseases is driving the growth of the biohacking market.
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Prominent Trend - Rising Popularity Of Biohacking Practices Fuels Market Growth
Increasing adoption of biohacking practices by consumers is expected to propel the growth of the biohacking market going forward. Biohacking practices such as meditation and intermittent fasting help with increasing mental focus, provide increased drive and energy, and help the body work efficiently, making it easier to fight illness. For instance, according to WebWire, a US-based online news channel, the size of the meditation market in the US is predicted to reach $2.08 billion by 2022. Therefore, the increasing adoption of biohacking practices by consumers is driving the growth of the biohacking market.
Biohacking Market Players
Major companies operating in the biohacking market report are Apple Inc., Nootropics Depot LLC, LifeLabs Medical Laboratory Services, Fitbit Inc., NOW Foods LLC, Thorne Research Inc., Primal Life Sciences Inc., OsteoStrong LLC, Jarrow Formulas Inc., Athletic Greens Inc., Wild Health Inc., Perfect LLC, BioXcel Therapeutics Inc., Mind Lab Pro LLC, Elysium Health Inc., Thync Global Inc., HVMN Inc., Thriveport LLC, Kaatsu Global Inc., Beeblesoft Ltd., Interaxon Inc., SynBioBeta LLC, Behavioral Tech Corporation, Synbiota Inc., uBiome Corporation, InsideTracker Inc., Neuralink Corporation, LifeNome Inc., Pure Encapsulations LLC, Bioquark Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the biohacking market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the biohacking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biohacking Market Report Structure
3. Biohacking Market Trends And Strategies
4. Biohacking Market - Macro Economic Scenario
5. Biohacking Market Size And Growth
…..
27. Biohacking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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